Manchester United (NYSE:MANU) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Manchester United Ltd. (NYSE:MANU) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.51 and traded as high as $18.17. Manchester United shares last traded at $18.0490, with a volume of 454,129 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on MANU. Weiss Ratings restated a “sell (e+)” rating on shares of Manchester United in a research report on Monday, December 22nd. Wall Street Zen lowered shares of Manchester United from a “hold” rating to a “strong sell” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Manchester United Stock Up 2.2%

The firm’s 50 day moving average price is $16.66 and its 200-day moving average price is $16.51. The company has a current ratio of 0.31, a quick ratio of 0.29 and a debt-to-equity ratio of 2.58. The company has a market cap of $3.11 billion, a P/E ratio of -58.22 and a beta of 0.54.

Manchester United (NYSE:MANU) last issued its earnings results on Thursday, December 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Manchester United had a negative net margin of 6.14% and a negative return on equity of 10.21%. The business had revenue of $188.66 million for the quarter, compared to the consensus estimate of $191.16 million. As a group, equities research analysts expect that Manchester United Ltd. will post -0.74 EPS for the current year.

Institutional Trading of Manchester United

Institutional investors and hedge funds have recently modified their holdings of the stock. Ariel Investments LLC boosted its stake in Manchester United by 5.2% during the 2nd quarter. Ariel Investments LLC now owns 9,024,434 shares of the company’s stock worth $160,725,000 after acquiring an additional 449,105 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Manchester United by 30.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 1,404,151 shares of the company’s stock worth $22,354,000 after purchasing an additional 327,553 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Manchester United by 100.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 523,851 shares of the company’s stock valued at $8,340,000 after buying an additional 261,901 shares during the period. Harvey Partners LLC lifted its holdings in Manchester United by 15.8% during the third quarter. Harvey Partners LLC now owns 1,102,500 shares of the company’s stock worth $16,692,000 after acquiring an additional 150,802 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Manchester United by 83.8% during the 3rd quarter. Bank of America Corp DE now owns 243,444 shares of the company’s stock valued at $3,686,000 after purchasing an additional 111,011 shares in the last quarter. 23.34% of the stock is owned by institutional investors.

About Manchester United

Manchester United plc is a global sports and entertainment company best known for its ownership and operation of Manchester United Football Club, one of the most prominent professional football clubs in the world. The company’s core activities include the organization and promotion of competitive football matches, management of club facilities such as Old Trafford stadium, and the development of youth and academy programs. As a publicly traded entity on the New York Stock Exchange (NYSE: MANU), Manchester United plc leverages its status to expand commercial partnerships and broaden its international footprint.

The company’s revenue streams are diversified across matchday operations, broadcast rights, commercial partnerships, and licensing and merchandising.